BGA releases its 2024 state of the business report

For the fourth consecutive yr, the Blockchain Recreation Alliance has launched its annual State of the Business Report. Primarily based on questionnaires answered by the employees of its member corporations and people, it presents a snapshot of how the business has advanced over 2024 and what to foretell in 2025.

An awesome majority (71%) of blockchain corporations proceed to see asset possession as the first advantage of blockchain know-how in gaming. 

Whether or not referred to as play-to-earn, play-and-earn, or – as was the brand new buzz in early 2024 – play-to-airdrop, the power to supply rewards to gamers additionally stays an essential profit.

As for business ache factors, 54% of respondents nonetheless contemplate onboarding and consumer expertise to be the principle hurdle. This determine has decreased considerably nevertheless, down from 80% in 2023, indicating the business’s enhancements on this space.

As in earlier years, the report was performed, analyzed, and compiled by web3 advisory agency Emfarsis. It acquired 623 legitimate responses, which is an 18% enhance since 2023, and thrice that of 2021.

Notably, greater than half of all respondents, the very best ever, stated their skilled experience is in gaming. Conversely, respondents stating their career is in blockchain or cryptocurrency was down to only 11% in 2024, in comparison with 22% in 2023, and 27% in 2021.

Looking forward to 2025, the report additionally outlines some key predictions. Amongst them are consolidation or merging of blockchains and networks. This may be a logical consequence contemplating the quantity of infrastructure together with L2s and L3s that’s been constructed over the past yr.

Different predictions are hidden web3 know-how working within the background, the rising influence of AI contributing to extra personalised experiences, enhanced interoperability, and web3 esports.

You'll find the complete BGA 2024 State of the Business Report right here >>

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